13F-HR 1 DRZ4q12.txt FORM 13F HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2012 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: DePrince Race & Zollo, Inc Address: 250 Park Avenue South Suite 250 Winter Park, FL 32789 13F File Number: 028-05268 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Adelbert R. Sanchez Title: Chief Compliance Officer Phone: (407) 650-1655 Signature, Place, and Date of Signing: /s/ Adelbert R. Sanchez Winter Park, FL/USA February 13, 2013 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 295 Form 13F Information Table Value Total: $6,480,051 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. NONE FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AAON INC COM PAR $0.004 000360206 7215 345694 SH SOLE 314849 0 30845 ABBOTT LABS COM 002824100 37952 579417 SH SOLE 196550 0 382867 ABM INDS INC COM 000957100 37476 1878521 SH SOLE 1127546 0 750975 ADTRAN INC COM 00738A106 26244 1343070 SH SOLE 786720 0 556350 AEROPOSTALE COM 007865108 6215 477700 SH SOLE 55000 0 422700 AG MTG INVT TR INC COM 001228105 470 20000 SH SOLE 0 0 20000 AIR PRODS & CHEMS INC COM 009158106 39699 472500 SH SOLE 174500 0 298000 ALLETE INC COM NEW 018522300 13772 336067 SH SOLE 202947 0 133120 ALLIANCE BANCORP INC PA NEW COM 01890a108 6176 486316 SH SOLE 439238 0 47078 AMCOL INTL CORP COM 02341W103 20634 672557 SH SOLE 394732 0 277825 AMERICAN AXLE & MFG HLDGS IN COM 024061103 4033 360116 SH SOLE 33000 0 327116 AMERICAN INTL GROUP INC COM NEW 026874784 4589 130000 SH SOLE 0 0 130000 AMERICAN NATL BANKSHARES INC COM 027745108 1495 74046 SH SOLE 67112 0 6934 AMPCO-PITTSBURGH CORP COM 032037103 7827 391727 SH SOLE 353917 0 37810 ANDERSONS INC COM 034164103 31605 736710 SH SOLE 409697 0 327013 ANWORTH MORTGAGE ASSET CP COM 037347101 16858 2916682 SH SOLE 1445140 0 1471542 APOLLO RESIDENTIAL MTG INC COM 03763V102 7708 381775 SH SOLE 26540 0 355235 APPLE INC COM 037833100 8408 15800 SH SOLE 2800 0 13000 APPLIED MATLS INC COM 038222105 65822 5753641 SH SOLE 2171940 0 3581701 ARBOR RLTY TR INC COM 038923108 899 150000 SH SOLE 0 0 150000 ARCHER DANIELS MIDLAND CO COM 039483102 42595 1555126 SH SOLE 569050 0 986076 ARKANSAS BEST CORP DEL COM 040790107 11448 1198742 SH SOLE 1090672 0 108070 ARLINGTON ASSET INVT CORP CL A NEW 041356205 1563 75272 SH SOLE 0 0 75272 ASCENA RETAIL GROUP INC COM 04351G101 4198 227300 SH SOLE 30000 0 197300 ATLAS AIR 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410469 SH SOLE 244864 0 165605 CATERPILLAR INC DEL COM 149123101 72314 807000 SH SOLE 299500 0 507500 CHEROKEE INC DEL NEW COM 16444H102 11960 872334 SH SOLE 797333 0 75001 CHIMERA INVT CORP COM 16934Q109 1566 600000 SH SOLE 0 0 600000 CISCO SYS INC COM 17275R102 70877 3607100 SH SOLE 1331000 0 2276100 CITIGROUP INC *W EXP 01/04/201 172967226 1205 2855600 SH SOLE 0 0 2855600 CITIGROUP INC COM NEW 172967424 10226 258492 SH SOLE 42500 0 215992 CLIFTON SVGS BANCORP INC COM 18712Q103 7804 692459 SH SOLE 624459 0 68000 CLOROX CO DEL COM 189054109 38265 522598 SH SOLE 184110 0 338488 COHEN & STEERS INC COM 19247A100 4463 146459 SH SOLE 82530 0 63929 COHU INC COM 192576106 31844 2937661 SH SOLE 2132236 0 805425 COLUMBIA SPORTSWEAR CO COM 198516106 15054 282114 SH SOLE 165395 0 116719 COMFORT SYS USA INC COM 199908104 12757 1049107 SH SOLE 953482 0 95625 COMMUNICATIONS SYS INC COM 203900105 3953 380060 SH SOLE 344260 0 35800 CON-WAY INC COM 205944101 22848 821285 SH SOLE 469625 0 351660 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50110 DONNELLEY R R & SONS CO COM 257867101 23601 2625275 SH SOLE 943700 0 1681575 DOUGLAS DYNAMICS INC COM 25960r105 7687 534185 SH SOLE 482338 0 51847 DOVER CORP COM 260003108 83580 1271960 SH SOLE 476010 0 795950 DOW CHEM CO COM 260543103 77194 2387720 SH SOLE 887420 0 1500300 DYNAMIC MATLS CORP COM 267888105 6983 502392 SH SOLE 448222 0 54170 EASTERN INS HLDGS INC COM 276534104 5316 311270 SH SOLE 280924 0 30346 EDGEN GROUP INC CL A 28014Q107 220 31104 SH SOLE 31104 0 0 ELECTRO SCIENTIFIC INDS COM 285229100 9603 965156 SH SOLE 878926 0 86230 ELLINGTON FINANCIAL LLC COM 288522303 9366 416997 SH SOLE 111960 0 305037 EMBRAER S A SP ADR REP 4 COM 29082A107 39813 1396450 SH SOLE 616150 0 780300 EMERSON ELEC CO COM 291011104 82467 1557150 SH SOLE 577950 0 979200 ENCANA CORP COM 292505104 40590 2054150 SH SOLE 770000 0 1284150 ENNIS INC COM 293389102 5166 333962 SH SOLE 298036 0 35926 ESSA BANCORP INC COM 29667D104 7563 694472 SH SOLE 628232 0 66240 ETHAN ALLEN INTERIORS INC COM 297602104 4116 160103 SH SOLE 95081 0 65022 EVERCORE PARTNERS INC CLASS A 29977A105 28259 936038 SH SOLE 556612 0 379426 EXCEL TR INC COM 30068C109 5668 447371 SH SOLE 404501 0 42870 EXCO RESOURCES INC COM 269279402 27614 4078845 SH SOLE 2367285 0 1711560 EXXON MOBIL CORP COM 30231g102 39097 451727 SH SOLE 174960 0 276767 FBR & CO COM 30247C301 4616 1192791 SH SOLE 170293 0 1022498 FINISH LINE INC CL A 317923100 25079 1324837 SH SOLE 715701 0 609136 FIRST FINL BANCORP OH COM 320209109 18672 1277179 SH SOLE 754799 0 522380 FLUSHING FINL CORP COM 343873105 6187 403333 SH SOLE 364323 0 39010 FORD MTR CO DEL COM PAR $0.01 345370860 41159 3178300 SH SOLE 1149700 0 2028600 FORRESTER RESH INC COM 346563109 18647 695788 SH SOLE 408308 0 287480 FORTRESS INVESTMENT GROUP LL CL A 34958B106 8072 1838780 SH SOLE 110000 0 1728780 FREDS INC CL A 356108100 10684 802699 SH SOLE 452442 0 350257 FREEPORT-MCMORAN COPPER & GO COM 35671D857 51350 1501460 SH SOLE 574540 0 926920 FREIGHTCAR AMER INC COM 357023100 2512 112025 SH SOLE 101385 0 10640 FRESH DEL MONTE PRODUCE INC ORD G36738105 28117 1067040 SH SOLE 631211 0 435829 FULL HOUSE RESORTS INC COM 359678109 1625 470897 SH SOLE 0 0 470897 GAFISA S A SPONS ADR 362607301 1088 234000 SH SOLE 0 0 234000 GENERAL DYNAMICS CORP COM 369550108 38787 559943 SH SOLE 214750 0 345193 GENERAL MTRS CO *W EXP 07/10/201 37045V126 12095 968414 SH SOLE 91290 0 877124 GENWORTH FINL INC COM CL A 37247D106 7825 1042000 SH SOLE 77000 0 965000 GLOBAL CASH ACCESS HLDGS INC COM 378967103 2078 265000 SH SOLE 0 0 265000 GLOBAL POWER EQUIPMENT GRP I COM PAR $0.01 37941P306 11317 659935 SH SOLE 598775 0 61160 GLOBAL SHIP LEASE INC NEW SHS A Y27183105 14419 4904341 SH SOLE 355316 0 4549025 GLOBE SPECIALTY METALS INC COM 37954N206 26536 1929902 SH SOLE 1151452 0 778450 GOLAR LNG LTD BERMUDA SHS G9456A100 3579 97300 SH SOLE 22300 0 75000 GREENHILL & CO INC COM 395259104 20833 400712 SH SOLE 238287 0 162425 GUESS INC COM 401617105 96933 3949985 SH SOLE 1642511 0 2307474 GULF ISLAND FABRICATION INC COM 402307102 11361 472777 SH SOLE 430002 0 42775 HANOVER INS GROUP INC COM 410867105 24654 636408 SH SOLE 367745 0 268663 HARSCO CORP COM 415864107 83645 3559367 SH SOLE 1596664 0 1962703 HARTFORD FINL SVCS GROUP INC COM 416515104 6831 304400 SH SOLE 38000 0 266400 HAYNES INTERNATIONAL INC COM NEW 420877201 25354 488792 SH SOLE 282615 0 206177 HERCULES TECH GROWTH CAP INC COM 427096508 30265 2719248 SH SOLE 1779297 0 939951 HF FINL CORP COM 404172108 3247 247887 SH SOLE 228799 0 19088 HILL ROM HLDGS INC COM 431475102 16479 578203 SH SOLE 339959 0 238244 HILLENBRAND INC COM 431571108 16290 720480 SH SOLE 418567 0 301913 HOME LN SERVICING SOLUTIONS ORD SHS G6648D109 1134 60000 SH SOLE 0 0 60000 HOUSTON WIRE & CABLE CO COM 44244K109 11967 975310 SH SOLE 890800 0 84510 HUNTSMAN CORP COM 447011107 52876 3325554 SH SOLE 1246845 0 2078709 IBERIABANK CORP COM 450828108 36028 733467 SH SOLE 436085 0 297382 ICICI BK LTD ADR 45104G104 249 5720 SH SOLE 0 0 5720 INFINITY 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SH SOLE 670560 0 1170300 KAYDON CORP COM 486587108 30802 1287164 SH SOLE 757669 0 529495 KB FINANCIAL GROUP INC SPONSORED ADR 48241a105 233 6500 SH SOLE 0 0 6500 KELLOGG CO COM 487836108 63432 1135763 SH SOLE 402900 0 732863 KEYCORP NEW COM 493267108 37930 4504792 SH SOLE 1653497 0 2851295 KINDER MORGAN INC DEL COM 49456B101 45480 1287287 SH SOLE 475650 0 811637 KNIGHT TRANSN INC COM 499064103 40743 2784915 SH SOLE 1662491 0 1122424 KNOLL INC COM NEW 498904200 17294 1125917 SH SOLE 659476 0 466441 KODIAK OIL & GAS CORP COM 50015Q100 664 75000 SH SOLE 0 0 75000 KOHLS CORP COM 500255104 45072 1048676 SH SOLE 392565 0 656111 KONINKLIJKE PHILIPS ELECTRS NY REG SH NEW 500472303 63423 2389717 SH SOLE 943400 0 1446317 KRONOS WORLDWIDE INC COM 50105F105 24687 1265989 SH SOLE 741459 0 524530 LAS VEGAS SANDS CORP COM 517834107 5908 128000 SH SOLE 0 0 128000 LAWSON PRODS INC COM 520776105 13300 1343439 SH SOLE 1218257 0 125182 LEAR CORP COM NEW 521865204 5545 118381 SH SOLE 13330 0 105051 LINEAR 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272900 RYDER SYS INC COM 783549108 68192 1365756 SH SOLE 571339 0 794417 S Y BANCORP INC COM 785060104 3055 136245 SH SOLE 122974 0 13271 SAFEWAY INC COM NEW 786514208 39527 2185002 SH SOLE 819490 0 1365512 SANDERSON FARMS INC COM 800013104 5232 110033 SH SOLE 15690 0 94343 SANOFI SPONSORED ADR 80105n105 552 11660 SH SOLE 11660 0 0 SCHAWK INC CL A 806373106 5256 399385 SH SOLE 356335 0 43050 SCHNITZER STL INDS CL A 806882106 28849 951177 SH SOLE 540870 0 410307 SEACUBE CONTAINER LEASING LT SHS G79978105 3279 173977 SH SOLE 0 0 173977 SEALED AIR CORP NEW COM 81211K100 67477 3853635 SH SOLE 1466465 0 2387170 SEARS HOMETOWN & OUTLET STOR COM 812362101 843 25900 SH SOLE 0 0 25900 SIERRA BANCORP COM 82620P102 3212 281037 SH SOLE 255377 0 25660 SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 8810 347409 SH SOLE 313754 0 33655 SKYLINE CORP COM 830830105 1938 477337 SH SOLE 430701 0 46636 SKYWORKS SOLUTIONS INC COM 83088M102 3453 170100 SH SOLE 42600 0 127500 SMITHFIELD FOODS INC COM 832248108 5069 235000 SH SOLE 15000 0 220000 SOTHEBYS COM 835898107 34241 1018477 SH SOLE 603430 0 415047 SPARTAN MTRS INC COM 846819100 5702 1158931 SH SOLE 1047606 0 111325 SPARTAN STORES INC COM 846822104 1445 94052 SH SOLE 85627 0 8425 STANDARD PAC CORP NEW COM 85375C101 3749 510000 SH SOLE 50000 0 460000 STATOIL ASA SPONSORED ADR 85771P102 64169 2562657 SH SOLE 1007250 0 1555407 STEEL DYNAMICS INC COM 858119100 58133 4233999 SH SOLE 1589934 0 2644065 STELLARONE CORP COM 85856G100 4983 352430 SH SOLE 318630 0 33800 STERIS CORP COM 859152100 31172 897546 SH SOLE 533640 0 363906 STERLING BANCORP COM 859158107 20051 2201039 SH SOLE 1574542 0 626497 SUMMIT HOTEL PPTYS COM 866082100 9670 1017890 SH SOLE 919500 0 98390 SUNTRUST BKS INC COM 867914103 61228 2159710 SH SOLE 746398 0 1413312 SYNALLOY CP DEL COM 871565107 4171 291470 SH SOLE 263390 0 28080 TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 199 11590 SH SOLE 0 0 11590 TESSERA TECHNOLOGIES INC COM 88164L100 25267 1536004 SH SOLE 913823 0 622181 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 36850 986867 SH SOLE 400480 0 586387 TEXAS INSTRS INC COM 882508104 72778 2356030 SH SOLE 872222 0 1483808 TIDEWATER INC COM 886423102 86748 1941539 SH SOLE 848601 0 1092938 TIFFANY & CO NEW COM 886547108 1434 25000 SH SOLE 0 0 25000 TOTAL S A SPONSORED ADR 89151E109 39301 755637 SH SOLE 306699 0 448938 TRONOX LTD SHS CL A Q9235V101 6805 372854 SH SOLE 40000 0 332854 TSAKOS ENERGY NAVIGATION LTD SHS G9108L108 12858 3428925 SH SOLE 2424501 0 1004424 TWO HBRS INVT CORP COM 90187B101 554 50000 SH SOLE 0 0 50000 UNITED FINANCIAL BANCORP INC COM 91030T109 5103 324599 SH SOLE 293009 0 31590 UNITED PARCEL SERVICE INC CL B 911312106 66497 901900 SH SOLE 333600 0 568300 UNITED RENTALS INC COM 911363109 6559 144100 SH SOLE 20500 0 123600 UNITED STATIONERS INC COM 913004107 17258 556892 SH SOLE 318417 0 238475 UNIVERSAL CORP VA COM 913456109 21028 421317 SH SOLE 277687 0 143630 URS CORP NEW COM 903236107 40174 1023290 SH SOLE 388840 0 634450 VALLEY NATL BANCORP COM 919794107 24981 2686176 SH SOLE 994820 0 1691356 VELTI PLC ST HELIER SHS G93285107 2478 550628 SH SOLE 62500 0 488128 VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 865 34330 SH SOLE 3590 0 30740 W & T OFFSHORE INC COM 92922P106 32768 2044158 SH SOLE 1217440 0 826718 WABASH NATL CORP COM 929566107 628 70000 SH SOLE 70000 0 0 WALGREEN CO COM 931422109 67967 1836450 SH SOLE 692500 0 1143950 WAUSAU PAPER CORP COM 943315101 8416 971769 SH SOLE 878009 0 93760 WELLS FARGO & CO NEW COM 949746101 2905 85000 SH SOLE 0 0 85000 WESTWOOD HLDGS GROUP INC COM 961765104 2611 63840 SH SOLE 56962 0 6878 WEYCO GROUP INC COM 962149100 4676 200187 SH SOLE 180849 0 19338 WISDOMTREE TR MID EAST DIVD 97717x305 958 63910 SH SOLE 63910 0 0 WYNN RESORTS LTD COM 983134107 3712 33000 SH SOLE 3000 0 30000 ZAGG INC COM 98884U108 469 63690 SH SOLE 0 0 63690 ZEP INC COM 98944B108 8450 585160 SH SOLE 529810 0 55350